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Forbes | Prove CEO Rodger Desai: “Success of open banking hinges on optimal balance of security and CX”

In a recent article on Forbes, Rodger Desai, Prove Co-Founder & CEO, wrote about the challenges facing Open Banking implementation globally.

Prove Wins Seven 2021 Comparably Awards and Three Expert Insights Awards

Identity Authentication & Verification Leader Takes Top Honors for Workplace Environment & Cybersecurity Solutions 

Identity and Access Management: Trends to Watch

The next few years will be crucial to the development of identity and access management (IAM) trends.

New Study Shows Consumers Desire a World Beyond Passwords and Biometrics

A new study surveyed 1,000 consumers in the United States to better understand their perceptions of convenience, security, and privacy around authentication.

With a High Loan Approval Rate, Alternative Lenders Are Easing the Credit Burden on Small Businesses

Small/medium-scale enterprises (SMEs) are a vital cog in a country’s economy.

Will AI Change Banking for Good?

A study of 34 major banks across geographies found that 27 out of these 34 banks have implemented AI in their front-office functions in the form of virtual assistants, chatbots, and digital advisors.

Video (M) Banking: A Modern Way of Communication Between Bank & Customer

Video banking is not the latest trend in the Polish banking sector. Some banks have already offered it: e.g., ING Bank Śląski, Raiffeisen Polbank, Alior Bank, or Idea Bank. However, it’s mBank, whose number of video calls constantly increases, simplifying e-banking. mBank’s system is the most innovative on the market, not just in Poland. The service is available 24/7, also for those that are not mBank’s customers but are interested in its offer.

Risk Management – The Most Important Application of AI in the Financial Sector

The ability of AI to mitigate risk remains one of the most critical areas of development for financial institutions.

The Future Is Digital – Exploring Answers to SME Financing Problems

Understanding the RegTech Effect in Numbers

How [And Which] FinTech Startups Are Breaking Banking for Freelancers

The free banking economy goes much deeper than you think. The freelancer economy is happening all around us.

Public and Private Blockchain Concepts and Examples

Prove’s Amit Goel on CNBC: “BNPL Players Need Better Checks and Balances”

Prove’s Amit Goel on CNBC-TV18 sharing insights on the rise of ‘Buy Now, Pay Later’ regulatory and fraud concerns.

Celebrating Hispanic Heritage Month at Prove!

From our Prove family, happy Hispanic Heritage Month! Let’s continue to fight for representation and continue our work to empower Hispanic-Latino success in the workplace.

Prove Wins 3 Expert Insights Awards for Fall 2021

Thrilled to announce that we've won three Expert Insights Awards for Fall 2021.

The 10 Burning Questions on Tokenization: A Set of Answers

Some questions and highlights some differences between true tokenization, PCI-redefined tokenization, and how they both apply to the Apple Pay technology.

How Blockchain Will Revolutionize Invoice-Backed Financing

Distributed ledgers are version 2.0 of the current systems and can work around concepts such as identity verification, public/private transaction distinction, and automated execution of contracts.

Conversational Systems Will Enable Businesses of the Future to Be 'Invisibly Present' Through Time and Space

Through connected APIs, enterprises can build conversational systems that aggregate business events from every enterprise area to facilitate people-to-people, people-to-systems, and systems-to-systems interactions.

Post-Trade Clearing & Settlement Processing Optimization: An Opportunity for Blockchain?

The current post-trade processes are perceived as highly complex, slow, expensive, and inefficient—and as such, in dire need of optimization and streamlining that is ripe for technology disruption.

Use of AI in Mortgage Business

Mortgage lenders recognize the need to operate in this fast-changing landscape.

The Quantitative Impact of Digital Transformation

In their effort to automate more parts of their businesses, about 50% of the world’s financial services firms plan to acquire FinTech startups in the next several years.

How Blockchain Technology Will Play an Imperative Role in Capital Markets

Capital Markets is one industry in the financial space where industry experts are optimistic about using blockchain technology.

FinTech Partnerships: The Path to Reach New Underbanked Customers

Rideshare companies like Lyft and Uber have quickly learned that they need to partner with financial technology companies

The Reason You Should Trust AI in Online Banking

It is expected that AI will be the next big thing in finance, changing how we do everyday transactions.

A Worthy Sequel: An Overview of Next-Gen NoSQL Databases

A database is an organized and systematic collection of data that can be stored and accessed electronically.

Harvesting Upside from Cybersecurity: Getting a Job or Placing Capital

What should established organizations be thinking about in terms of both employment and investment? What should investors be thinking about in terms of cyber opportunity? Where’s the best employment potential in cybersecurity?

BaaS is Becoming the Sexiest Vertical in FinTech

Fake News, Real Harm: How Digital Verification Can Put a Stop to Social Media Bots

As the COVID-19 pandemic continues to claim lives worldwide, another related contagion is spreading like wildfire through social media: fake news.

The Steps to Starting a Successful Debt Collection Agency

“Log in with your walk.” Prove’s Behavioral Biometrics technology replaces passwords by authenticating based on natural human motion

Prove announces at Money20/20 Europe that its motion-based behavioral biometrics solutions are now available in 195 countries and help businesses make identity authentication easier and safer for users

Prove Wins Aite-Novarica Fraud & AML User Experience Impact Innovation Award for Game-Changing “Pre-Fill” Solution

Aite-Novarica Group recognized Prove Pre-Fill™ as an innovative technology that helps companies remove friction from onboarding processes to drive revenue with more sign-ups while also mitigating fraud

How Phone-Centric Identity™ Is Critical to Securing Cryptocurrency’s Bright Future

Companies in the cryptocurrency space are turning to phone-centric technology already embraced by banks to become leaders in this fast-evolving industry

Prove CEO Rodger Desai on Cheddar News: “To prevent cyberattacks, it's vital that we work together across industries”

Prove CEO Rodger Desai joined Cheddar News to talk about the need for cross-industry cooperation to shore up cyber defenses.

3 Innovative Ways for Chief Marketing Officers to Increase User Sign-ups

CMOs are turning to the latest in phone-centric technology to accelerate onboarding and drive sales.

Adding Value to Acquiring Bank Portfolios With Managed PCI Compliance

PCI DSS was set up to help secure businesses process card payments and fight fraud.

Stormy Weather: Cybersecurity in the Pandemic

Since the pandemic hit, we have seen a dramatic upswing in identity spoofing, phishing, trojan attacks, and other security breaches.

Payment Banks Case Study 2: Why They Got a License + Expectations [FINO PayTech]

FINO PayTech operates the largest network of business correspondents in India that help banks and reach out to customers in the countryside.

Japanese Banking Giant Mitsubishi Joins FinTech Innovation Race Launching New Research Unit

5 Cs of Opportunity in InsurTech

The global insurance industry is an industry on the cusp of change with investments totaling $1.4 billion in just the first three-quarters of 2016.

Financial Infrastructure API Companies Are Coming of Age

In the last two to three years, with the rise of open banking, APIs in general and financial infrastructure APIs, in particular, have been of much interest.

The Good, The Bad, and The Ugly about Apple Pay

Apple Pay has delivered many good things. But there are dark clouds on the horizon.

Blockchain Technology in Supply Chain and Logistics

Like the financial services industry, in supply chain and logistics, blockchain has a great potential in increasing transparency.

Blockchain Activity of FIs & Banks: Updated Analysis (Infographic)

Innovations and practices implemented by FIs in blockchain technology.

What We Learned About Robo-Advisors in the Last 19 Months

Hundreds of startups are trying to shake up the investment world with robo-advisor offerings.

What Makes FinTech a Vital Element of the International Ecosystem? [Infographic]

Investments in FinTech have grown exponentially in the past decade – rising from $1.8 billion in 2010 to $19 billion in 2015.

Usage of Voice-Enabled Digital Assistants in Financial Services

Voice-enabled assistants are estimated to reach 1.83 billion by 2025.

The Role of Social Media in FinTech

The data collected through social media platforms can analyze consumer behavior and preferences, which is the most critical factor for analysis for FinTech companies.

Analysis of Select UK Challenger Banks’ Tech Cost as Part of Operational Expense

Traditional banks are now facing intense competition from FinTech players that are young, dynamic, and more adept at providing financial services in today’s digital era.

How Can RegTechs Help Financial Services Overcome the Burden of Compliance?

Dealing with regulations is usually a costly and cumbersome affair.

Using Trust Score™ To Counter Account Takeover Fraud 

Nearly one-third of identity theft victims lose their digital identity through account takeovers (ATOs).

How Can Banks Survive the Digital Wallet War Against GAFA?

With the implementation of PSD2 in Europe, banks’ monopoly on their customer’s account information will likely disappear.

Gig Economy From a FinTech Lens

It's important to understand what actually is the gig economy, where it would fit in the post-COVID-19 world, and what it means for FinTech.

Keiron Dalton: “It’s difficult to establish trust without something ubiquitous. That’s why we look at the phone.”

Keiron Dalton, Vice President and UK Country Manager at Prove, talks about how Phone-Centric Identity ™ can help us regain confidence in our digital accounts in a recent interview with Expert Insights.

Fighting Authorized Push Payment Fraud in the UK

An advanced form of social engineering, APP fraud has been on the rise globally, causing significant financial losses to consumers.

FinTech Is Not a Niche Anymore, It's a Powerful and Highly Disruptive Industry

The bank account was one ‘thing’ that made FinTech dependent on the banking system, but no longer.

FinTech Funding Review for the Year So Far: Did COVID-19 Make an Impact? 

Although the pandemic has led to increased global uncertainty, venture capital investments have been strong in many regions worldwide.

Big Question for Insurers Is Not Tech but Whom to Partner with for IoT InsurTech

IoT is a network of physical objects that gathers as well as transmits information for data processing and insights.

How Banks & Regulators Are Applying Machine Learning

Here are some interesting examples of machine learning applications in banking.

Social Engineering Attacks: Things One Should Know to Avoid Payment Scams

Social engineering refers to psychologically manipulating people to make them act or divulge information.

There Is a FinTech Startup for Almost Any Bank Service

If there is a startup for each service a bank provides, do we really need banks?

Understanding Disruptive vs. Radical Innovation

Understanding two distinct areas types of innovation: disruptive and radical.

Defining the Future of Payments; Visa Bets on Biometrics

Mobile technology is believed to become a significant force in accelerating the adoption of biometrics.

The Future of Identity

Canada is testing a new airport security and screening system that will allow travelers to digitize and share travel documents & biometric information.

The Future of Authentication Is Mobile, Instant, and Already Here

Some FinTech companies are introducing instant authentication services on mobile in collaboration with a powerful party – a mobile operator.

Can Alternative Data Be Used for Creditworthiness Assessment?

Alternative data sources vary significantly in their ability to accurately assess one’s creditworthiness/predict the likelihood of someone defaulting.

10 Remote Cheque Deposit Applications in the US from Non-Banks

Remote deposit capture refers to the ability to deposit a check into a bank account from a remote location without having to physically deliver it to the bank.

7 Biggest Security Mistakes in FinTech That Can Easily Be Avoided

While FinTech founders are savvy in many financial sectors, most do not have the expertise to build a perfectly secure FinTech application.

Auto Lenders Are Improving Customer Experience by Accelerating Onboarding with Prove Pre-Fill™

To beat out the competition, a growing number of auto loan providers are harnessing Phone-Centric Technology™ to cut down on time it takes to complete the necessary forms, improving customer experience and increasing sales. 

One World Identity and Prove Release New White Paper: Solving the Biggest Identity Authentication Challenges with Mobile Technology

The white paper is a guide to the latest identity verification and authentication technologies and best practices for layering advanced identity techniques to mitigate fraud and reduce friction.

30 Non-Financial Use Cases of Blockchain Technology

A list of interesting examples of the applications of blockchain technology beyond financial services.

“9-1-1, What’s Your Emergency?” – Boosting PSAP Compliance with Improved Phone Management

Understaffing caused by a tight labor market is the primary reason why wait times are growing at PSAPs.

How 37 Banks in 1990s became 4 Banks in 2009; Mega Consolidation in the US

These four establishments essentially monopolize the entire banking industry—the 'Big Four' is an idiomatic name for the four central banks in many countries.

​​Why Electronic Payments Are the Key to Economic Growth

Electronic payments globally are being adopted at an outstanding pace combined with rapid technology development and digital experience improvement.

Funding FinTechs: From Mere Users to Equity Investors

Crowdfunding has made it possible for a regular customer to invest in a potential unicorn and reap profits at a level only previously enjoyed by the tight-knit group of venture capitalists.

​​8 Current Affairs in Proximity Marketing, a Market Waiting to Unfold

Proximity platforms could transform digital out-of-home and even traditional billboard marketing.

COVID-19 Vaccine Opportunity: Blockchain Will Transform the Supply Chains in Health and Pharma

While the current surge in bitcoin's value only reinvigorates its association with blockchain, a novel and more crucial application of blockchain has also emerged—the COVID-19 vaccine.

Alternative Data & Financial Access: The Good, the Bad, and the Ugly

One of the problems with extending financial access is the lens through which the formal financial system assesses previously invisible groups of the global population.

10 Advancements in Payments and Card Security That Have Made Us Feel Safer

A list of advancements in the payments domain that cannot go unnoticed.

23 Examples of How the Most Powerful Institutions Are Leveraging Machine Learning

‍A look at a collection of examples of how leading institutions are utilizing machine learning to unlock value

4 Banks that have Adopted the Concept of ‘Pop-Up Branch’

Financial institutions are now using ‘pop-up branches’ to test new permanent locations, provide low-cost transactional support, and implement special event engagement.

45+ Use Cases for Blockchain Technology – Just Because You Can, Doesn’t Mean You Should

Where does an exploration of a technological capability stop making business sense, and starts being a research for the sake of research?

Tackling Social Engineering Fraud Using Phone-Centric Identity™

Social Engineering Fraud involves gaining the trust of an individual within a business to trick an individual into providing confidential information to steal money from their accounts or even misleading and convincing them into sending money directly into the fraudster’s account.

Six Biggest Problems with Alternative Data

The number of FinTech startups in the alternative credit scoring space varies from several hundred to hundreds of thousands.

39 Cryptocurrency Hacks: $1.93 Billion in Loss Over 5 Years

In this story, we analyze the money lost due to crypto hacks, the volume of hacks, the region with the maximum amount of money lost due to hacks, and how it can be solved.

10 Reasons Why InsurTech Is Going to Be Important

There are around 700–800 InsurTech firms globally that are addressing the requirements of the $4.5-trillion insurance industry.

5 Strategic Moves by Banks to Fight Coronavirus Setbacks

A primer on what some of the leading banks doing to counter the COVID-19 setbacks.

New Podcast: Michael Lynch, Chief Strategy Officer at Prove: “We’re trying to change the way identity works.”

On the new episode of One World Identity's State of Identity podcast, Michael Lynch, Chief Strategy Officer at Prove, speaks about verification and authentication solutions across the identity lifecycle.

Digital Identity Leader Prove Appoints Fraud Expert Mary Ann Miller as VP of Client Experience

Miller will help elevate Prove’s customer experience by providing clients with personalized, consultative fraud and identity management expertise.

PINless Debit Payments — Here we go again…

Since January 2015, some issuers have seen their PINless debit payment volumes increase by more than 500%.

Top US-Based FinTechs Making a Difference Through Artificial Intelligence

A list of US-based FinTech companies leveraging AI.

Examining the ROI & Benefits of RegTech Solutions for Businesses

Global demand for regulatory, compliance, and governance software is expected to reach $118.7 billion by 2020.

Powering Financial Inclusion Using Alternative Data – A Framework

A recent study estimates that 40% of Indian MSME lending is through the informal money markets.

Customer Experience as a Competitive Advantage: How FinTech Startups Forever Changed User Attitudes in Banking

Mobile technologies have significantly affected the financial services industry, forcing institutional players to tailor their businesses to survive in the mobile-first environment.

Blockchain Use Cases Part II: Non-Financial and Financial Use Cases

Various banks have shown interest and started experimenting with blockchain.

Prove CEO Rodger Desai: “To Win In Digital, Companies Must Prioritize Digital Trust”

Prove CEO Rodger Desai writes about the challenges businesses face as well as actionable ways companies are adopting new techniques in a bid to focus on digital trust.

CFPB Regulation E Update: Onus on Banks for Better Fraud Prevention

Banks and FIs have a bigger financial incentive than ever before to invest in fortifying one-time passwords and leveling up their biometric game.

Blockchain Technology – The New Foundation of Effective & Transparent Supply Chain Management

Supply chain management and logistics are among the cases where blockchain technology is believed to be having advantages over conventional systems.

Central Banks Globally Respond To Bitcoin With Their Own Digital Cash

Government and taxpayers will benefit from eCurrency as it is ten times cheaper to mine and distribute eCurrency than paper money, with its costs to produce, secure, and distribute.

7 Trends in Biometric Technology as It Applies to FinTech

Governments and various industries are trying to implement mobile biometrics to speed up the process of biometric authentication.

The Impact and Threat of Money Laundering

While globalization and innovation in technology have helped in facilitating large sums of money quickly, it has also helped in rapid money laundering.